ISLAMABAD: Prime Minister Shehbaz Sharif chaired a high-level review meeting on the implementation progress of decisions taken during the recent Pakistan–China Business-to-Business (B2B) Investment Conference held in China, emphasizing the need to swiftly convert MoUs into concrete joint ventures and commercial agreements.
The Prime Minister said that the significant expansion of business-to-business linkages between the private sectors of Pakistan and China marks the beginning of a new phase in bilateral economic cooperation. He added that enhanced collaboration in industrial, agricultural and technological sectors would help boost Pakistan’s exports and generate new employment opportunities.
During the meeting, officials briefed that the Hangzhou B2B Conference held on May 24 witnessed participation from 123 Pakistani and 436 Chinese companies, resulting in the signing of 207 Memoranda of Understanding (MoUs) worth approximately $7.54 billion.
The briefing noted that agreements were reached in multiple sectors including battery energy storage systems, artificial intelligence (AI), mobile phones and handheld devices, as well as agriculture-related industries such as fertilizers, seeds, modern irrigation systems, fisheries and food processing. Additional MoUs were also signed in biotechnology, vaccine production and other advanced industrial fields.
The Prime Minister directed that all MoUs be urgently transformed into formal agreements and joint ventures.
He also instructed authorities to ensure practical implementation of cooperation between the Pakistan Agricultural Research Council and the Chinese Academy of Agricultural Sciences to promote innovation in the agriculture sector.
He stressed that through joint research, modern technology and Pakistan–China collaboration, a transformative improvement in Pakistan’s agricultural productivity could be achieved.
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The Prime Minister also decided to personally chair monthly review meetings to monitor progress on the B2B initiatives and ensure timely execution of agreed projects.
